XBiotech (NASDAQ:XBIT) Shares Pass Below Fifty Day Moving Average – Here’s Why

XBiotech Inc. (NASDAQ:XBIT)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.50 and traded as low as $2.30. XBiotech shares last traded at $2.31, with a volume of 23,662 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of XBiotech in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

XBiotech Trading Down 2.5%

The company’s 50-day moving average price is $2.50 and its two-hundred day moving average price is $2.64. The company has a market cap of $70.43 million, a P/E ratio of -2.41 and a beta of 0.86.

XBiotech (NASDAQ:XBIT) last posted its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On XBiotech

A number of large investors have recently made changes to their positions in XBIT. RBF Capital LLC purchased a new position in XBiotech during the second quarter valued at approximately $594,000. Squarepoint Ops LLC boosted its stake in shares of XBiotech by 56.3% during the 3rd quarter. Squarepoint Ops LLC now owns 62,159 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 22,383 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of XBiotech during the 2nd quarter valued at $142,000. Bank of America Corp DE grew its holdings in shares of XBiotech by 160.3% during the 3rd quarter. Bank of America Corp DE now owns 47,389 shares of the biopharmaceutical company’s stock valued at $126,000 after acquiring an additional 29,181 shares in the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of XBiotech by 31.8% in the third quarter. Citadel Advisors LLC now owns 42,816 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 10,333 shares during the last quarter. Institutional investors and hedge funds own 55.70% of the company’s stock.

XBiotech Company Profile

XBiotech Inc is a clinical-stage biopharmaceutical company developing human antibodies to treat cancer and other inflammatory-driven diseases. The company’s core technology, the True Human™ antibody platform, enables the discovery and development of monoclonal antibodies that mimic the human immune response without the need for genetic humanization. XBiotech’s lead therapeutic candidate targets interleukin-1 alpha (IL-1α), a key mediator of inflammation associated with tumor growth and chronic disease.

The company’s most advanced program, Xilonix® (MABp1), is a first-in-class anti-IL-1α antibody that has completed Phase 3 clinical trials in metastatic colorectal cancer patients.